I can't travel far from Marsden. What is the rationale as to why all Marsden conveyancing practitioners aren't automatically on all bank panels?
Pre- 2008 most lenders had an attitude to risk which is different than today. The financial regulator in 2010 conducted a thematic review into property fraud which concluded: know the lawyers on your panel. Consequently, lenders have since looked to extract more information from law firms regarding their processes and the staff employed by them and set certain criteria such as completing a minimum amount of transactions. Hundreds of law practices have been excluded from lender panels even though they had 100% healthy disciplinary record, no complaints and no claims and didn't just 'dabble' in conveyancing. Such firms found it impossible meet the minimum amount of transactions the lenders required.
What is the first thing I need to know regarding purchase conveyancing in Marsden?
Not many law firms shout this from the rooftops but conveyancing in Marsden and elsewhere in England and Wales is often a confrontational process. In other words, when it comes to conveyancing there exists lots of room for friction between you and others involved in the ownership transfer. E.g., the vendor, property agent and sometimes a mortgage company. Selecting a law firm for your conveyancing in Marsden is a critical decision as your conveyancer is your adviser, and is the SOLE party in the process whose responsibility is to act in your best interests and to keep you safe.
There is a distinct emergence in the "blame" culture- someone must be at fault for the process taking so long. We recommend that you your first instinct should be to trust your solicitor above all other players in the home moving process.
I require fast conveyancing in Marsden as I am faced with an ultimatum to exchange contracts within 3 weeks. Thankfully I do not require a mortgage. Is it possible to decline from having conveyancing searches to save money and time?
As you are are a mortgage free buyer you are at liberty not to do searches although no law firm would suggest that you don't. With lots of history conveyancing in Marsden the following are examples of issues that can arise and therefore impact future saleability: Enforcement Actions, Outstanding Fees, Outstanding Grants, Unadopted Roads,...
4 months have elapsed following my purchase conveyancing in Marsden completed. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I opted to have a survey completed on a property in Marsden in advance of instructing lawyers. I have been informed that there is a flying freehold element to the house. My surveyor has said that some mortgage companies tend refuse to give a mortgage on a flying freehold home.
It depends who your proposed lender is. Bank of Scotland has different requirements from Halifax. Should you wish to call us we can look into this further with the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Marsden. Conveyancing may be slightly more expensive based on your lender's requirements.
I am employed by a busy estate agency in Marsden where we see a number of leasehold sales derailed due to leases having less than 80 years remaining. I have received conflicting advice from local Marsden conveyancing firms. Please can you shed some light as to whether the owner of a flat can start the lease extension process for the purchaser on completion of the sale?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the disposal of the property.
Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
Marsden Leasehold Conveyancing - Examples of Queries Prior to buying
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Be sure to investigate if there are any onerous restrictions in the lease. For example it is fairly common in Marsden leases that pets are not allowed in certain buildings in Marsden. If you love the propertyin Marsden yet your cat can’t make the move with you then you will be presented with a difficult choice. Best to be warned whether a new roof is being installed or some other significant cost is due shortly that will be shared amongst the tenants and could well materially increase the the maintenance costs or necessitate a one time invoice. What is the the remaining lease term?